Update On The Highspots Vs. Ric Flair Lawsuit Inside

According to a source, here is the latest in regards to the lawsuit filed against Ric Flair by Highspots. Both sides are scheduled to begin depositions shortly, and a court date has been scheduled for April 18th, 2011. The suit was filed by Highspots due to their claim that Ric Flair owes them $35,000. Highspots claims that Flair gave them the original National Wrestling Alliance World Heavyweight championship as collateral for the loan. Highspots tried to auction off the belt a while back, but they then learned that Combraco, Inc., already held a lien on the property for money Flair owes them.

Highspots claims that they lent Flair $31,000 and $35,000 on different instances, while Flair's attorneys only acknowledge the $35,000 wire transfer. In regards to the NWA title, the attorney says that Flair didn't pledge the belt to Highspots as collateral. Flair claims that the belt was brought to the autograph sessions and that Highspots took possession and "refused to return it." Flair spoke to police in regards to getting the belt back, but when Charlotte police went to Highspots to get the belt, they left after being shown the paperwork regarding the issue.

Flair's filing asks that all claims from Highspots be denied, that the court rule that any debt to the company has been satisfied, that the NWA World championship belt be returned to his possession and that Highspots be forced to pay the court costs.

On a related note, Ring of Honor still has a suit pending against Flair. This suit is over breach of contract and money owed back to the promotion when Flair quit as the ROH Ambassador. Flair pulled out of scheduled appearances that he was paid in advance for.